cbn
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Nigeria Naira Crisis: Nigerian Government Continues 'Stick and Carrot' Approach as CBN Releases $20,000 to Each BDC to Stabilize Currency
The Central Bank of Nigeria (CBN) is taking proactive measures to rectify distortions in the country's foreign exchange market, particularly in the retail segment. In a recent circular by Dr. Hassan Mahmud, the Director of the Trade & Exchange Department, the CBN announced its decision to...- Nigeria News
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- bureau de change (bdc) cbn central bank of nigeria naira stabilization nigeria foreign exchange yemi cardoso
- Category: Business
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Nigeria Nigerians Demand Action as CBN Governor Rejects Responsibility for Economic Woes
In the midst of Nigeria's economic challenges, Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), addressed concerns during the first Monetary Policy Committee (MPC) meeting since assuming office in September 2023. Denying responsibility for the current economic situation, Cardoso...- Nigeria News
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- cbn cbn governor godwin emefiele mpc meeting yemi cardoso
- Category: Business
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Nigeria Travel, Medicals, and School Fees: CBN Sets New Limits on Forex Transactions
The Central Bank of Nigeria (CBN) has instituted new regulations governing the foreign exchange (FX) sales by Bureau De Change (BDC) operators, as outlined in the 'Revised Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria,' released on February 23, 2024. These...- Nigeria News
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- 1 min read
- bureau de change limits cbn forex regulations forex transactions medical bills in foreign currency school fees travel allowance guidelines yemi cardoso
- Category: Business
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Nigeria Nigeria's Poverty Trap: Only About 5% Of Nigerians Have Over N500,000 In Their Bank Accounts — Wale Edun
Finance Minister and Coordinating Minister of the Economy, Wale Edun, disclosed in a recent interview with Channels TV that approximately only 5% of Nigerians have more than N500,000 in their bank accounts. Edun emphasized that the ongoing federal government reforms aim to address economic...- Nigeria News
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- cbn nigerias economy wale edun yemi cardoso
- Category: Business
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Nigeria Naira Crisis: CBN Set to limit Cash FX Transaction to $500
The Central Bank of Nigeria (CBN) is contemplating significant regulatory changes for Bureau De Change (BDC) operators, including a potential ban on street trading and restricting cash payments for foreign exchange (FX) sales to a maximum of $500. The proposed guidelines also require sellers...- Nigeria News
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- 1 min read
- bureau de change cbn forex market naira crisis yemi cardoso
- Category: Business
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Nigeria Naira Crisis: CBN target BDCs With N2 billion Licence Fee
Amidst a deepening forex crisis pushing the naira to a historic low of N2,000 against the dollar, the Central Bank of Nigeria (CBN) has implemented robust measures against Bureau De Change (BDC) operators. In response to the economic downturn, the National Security Adviser, Mallam Nuhu Ribadu...- Nigeria News
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- 1 min read
- bdc operators bureau de change cbn cbn governor central bank of nigeria efcc forex crisis forex market naira crisis yemi cardoso
- Category: Business
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Nigeria Naira Freefall: Nigerians Alarmed As Dollar Rate Hits 1,900
The Nigerian naira is facing a severe crisis, dropping to N1,900 against the US Dollar in some cities, despite the government's crackdown on forex speculators. The Federal Government raided Bureau De Change (BDC) hubs in Abuja, Lagos, and Kano, leading to arrests of operators. National Security...- Nigeria News
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- 1 min read
- bureau de change raid cbn federal government clampdown forex market crisis naira exchange rate nigeria currency
- Category: Business
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Nigeria Nigeria's Economic Woes: Senate President Godswill Akpabio Claims Former CBN Governor Responsible for Hardship
Nigeria's Senate President, Godswill Akpabio, pointed fingers at the former Central Bank Governor, Godwin Emefiele, attributing the country's current hardship to certain monetary policies and actions implemented during Emefiele's tenure. Speaking at a function in Abuja on Sunday, Akpabio...- Nigeria News
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- cbn godswill akpabio godwin emefiele
- Category: Politics
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Nigeria Naira Nosedive: Closes Week at N1,537, Defying Central Bank Measures
In a tumultuous week for Nigeria's economy, the national currency, the Naira, experienced unprecedented depreciation, closing at N1,537.96 at the official market on Friday. This marks a significant milestone, as the currency surpassed the N1,500 threshold, showcasing the severity of its recent...- Nigeria News
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- cbn cbn interventions forex market naira to dollar exchange rate
- Category: Business
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Nigeria CBN Cracks Down on Forex Malpractices: Ends Cash Payments for Travel Allowances
The Central Bank of Nigeria (CBN) has introduced a pivotal policy shift, instructing authorized dealer banks to discontinue the payout of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) in cash. This directive, signed by Dr Hassan Mahmud, the Director of the Trade and...- Nigeria News
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- cbn central bank of nigeria forex market travel allowance
- Category: Business
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Nigeria Rate for Cargo Clearance in Nigeria Now N1515 to $1 - CBN
The Central Bank of Nigeria (CBN) has announced an adjustment in the exchange rate for the clearance of goods, increasing it from N1444.56/$ to N1515.09 against the USD. This marks a noteworthy rise of N70.53 compared to the previous rate, reflecting the CBN's continued efforts to align official...- Nigeria News
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- cbn central bank of nigeria economic reforms exchange rate goods clearance importers naira depreciation rate for good clearance
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Nigeria NUPRC Joins FAAN and CBN, Plans to Relocate Departments from Abuja to Lagos for Streamlined Operations
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced a significant shift in its operational base, planning to relocate certain units from Abuja to Lagos. This decision mirrors recent moves by the Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria...- Nigeria News
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- cbn faan faan and cbn relocation nuprc
- Category: Metro
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Nigeria Nigeria Relooted: CBN Has no Record of Recovered Money by EFCC Between 2016 - 2019 - Abati
The Office of the Auditor General for the Federation (OAuGF) has uncovered a significant lapse in the Central Bank of Nigeria's (CBN) record-keeping, specifically regarding money recovered by the Economic and Financial Crimes Commission (EFCC) between 2016 and 2019. The 2020 Audited report of...- Nigeria News
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- cbn godwin emefiele reuben abati
- Category: Metro
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Nigeria CBN Scandal Deepens: FG Launches Manhunt for CBN Staff Involved in $6.2 Million Buhari Signature Forgery
The Federal Government has declared Odoh Ocheme, a Central Bank of Nigeria (CBN) staff, alongside Adamu Abubakar and Imam Abubakar, wanted for their alleged involvement in forging former President Muhammadu Buhari's signature to steal $6.2 million from the CBN. A letter from the CBN special...- Nigeria News
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- adamu abubakar boss mustapha cbn cbn staff imam abubakar
- Category: Politics
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Nigeria Rufai Breaks Down Discrepancies in Boss Mustapha's Testimony Over $6.2 Million Emefiele CBN Scandal
Arise TV presenter Rufai meticulously analyzes the contradictions that surfaced in Boss Mustapha's testimony during the ongoing $6.2 million fraud trial involving former CBN governor Godwin Emefiele. Rufai sheds light on the complex legal proceedings, providing a detailed breakdown of Deputy...- Nigeria News
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- arise tv presenter boss mustapha cbn former governor of cbn godwin emefiele rufai
- Category: Politics
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Nigeria Nigerians Shocked and Mock Emefiele Over Revelations In Boss Mustapha's Statement About Signature Forgery and $6.2 Million Election scandal
In a courtroom drama that has sent shockwaves through the nation, the ongoing fraud trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took a startling turn as former Secretary of the Government of the Federation (SGF), Boss Mustapha, testified as the fourth prosecution...- Nigeria News
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- boss mustapha cbn efcc former cbn governor godwin emefiele
- Category: Politics
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Nigeria Ex-SGF Boss Mustapha Testifies in $6.2m Trial; Distances Himself and Accuses Emefiele of Forgery in Foreign Election Observers Controversy
Former Secretary of the Government of the Federation, Boss Mustapha, dropped a bombshell on Tuesday during his appearance as the fourth prosecution witness in the ongoing fraud trial of the former Central Bank of Nigeria Governor, Godwin Emefiele. Mustapha asserted that $6.2 million was...- Nigeria News
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- boss mustapha cbn emefieles scandal former cbn governor godwin emefiele
- Category: Politics
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Nigeria Naira Plummets to Record Low of N1,534/$1 Despite CBN Intervention Efforts
In a dramatic turn of events, the official exchange rate between the naira and the dollar plummeted to an unprecedented low of N1,534 on the NAFEM market, marking the weakest point in the currency's history. The day's forex turnover, a mere $89 million, revealed a sharp 64.69% drop in comparison...- Nigeria News
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- cbn economic turmoil exchange rate naira depreciation
- Category: Business
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Nigeria Access Holdings PLC Appoints Bolaji Agbede as Acting CEO Following Tragic Loss of Former CEO, Dr. Herbert Wigwe
In a somber announcement on Monday, Access Holdings PLC revealed the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer. This decision comes in the wake of the tragic helicopter crash that claimed the lives of its former Group CEO, Dr. Herbert Wigwe, his wife, son, and...- Nigeria News
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- access bank ceo acting ceo bolaji agbede cbn herbert wigwe herbert wigwes death leadership transition
- Category: Business
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Nigeria CBN Mandates Nigerian Banks to Pay Diaspora Transfers in Naira
In response to the Central Bank of Nigeria's recent directive limiting International Money Transfer Operators (IMTOs) to inbound transfers only, IMTOs have ceased dollar transfers to Nigerians, now opting to pay in naira. The CBN's move, aimed at liberalizing the foreign exchange market and...- Nigeria News
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- cbn sendwave usd transfers world remit yemi cardoso
- Category: Business
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